ENERGY European Natural Gas Contracts on CME Europe CME Europe offers a suite of 12 European Natural Gas Futures. These physically delivered and cash settled contracts cover the major European gas hubs and offer a competitive alternative to existing natural gas futures. All European gas The European Natural Gas contract slate provides a new venue for market participants to trade and clear their Natural Gas Futures, with: contracts will be listed on our London-based derivatives • Physical settlement of key contracts, reflecting the exchange, CME Europe, and cleared by CME Clearing Europe dominant market practice (CMECE) both operating under the UK and EU regulatory regimes. PHYSICALLY SETTLED NATURAL GAS CONTRACTS The four physically delivered contracts are for the two • Delivery of any physical position undertaken by leading service providers in the UK gas market • Daily cash margining of the position ahead of delivery significant trading hubs, the UK Natural Balancing Point (UK • Straight through processing (STP) from the Trayport front NBP) and the Netherlands Title Transfer Facility (Dutch TTF). end with real time trade confirmations These two hubs constitute a substantial proportion of all European gas trading volume. • Mitigation of counterparty credit risks Monthly and daily futures contracts are available for • European regulatory environment each hub. At expiry, the monthly contract cascades into a corresponding number of dailies. • Competitive pricing and fees Physically settled contracts Product Code UK NBP Natural Gas Daily Future NDE UK NBP Natural Gas Calendar Month Future NME Dutch TTF Natural Gas Daily Future TDE Dutch TTF Natural Gas Calendar Month Future TME How the world advances CASH SETTLED NATURAL GAS CONTRACTS Our cash settled futures contracts reference the ICIS Heren combinations. Cash settlement occurs against the published Indices. These contracts cover the six major European hubs: ICIS Heren Natural Gas day ahead and weekend assessments NBP, TTF, NCG, Gaspool and NVT; alongside four spread for these hubs. contracts representing the most commonly traded Cash settled contracts Product Code UK NBP Natural Gas (ICIS Heren) Future UKE Dutch TTF Natural Gas (ICIS Heren) Future DUE German Gaspool Natural Gas (ICIS Heren) Future GRE German NCG Natural Gas (ICIS Heren) Future GNE Austrian VTP Natural Gas (ICIS Heren) Future ASE German Gaspool Natural Gas (ICIS Heren) vs. GGE Dutch TTF Natural Gas (ICIS Heren) Spread Future German NCG Natural Gas (ICIS Heren) vs. GME Dutch TTF Natural Gas (ICIS Heren) Spread Future UK NBP Natural Gas (ICIS Heren) vs. NVT Dutch TTF Natural Gas (ICIS Heren) Spread Future ACCESS TO TRADING AND CLEARING For Block and EFRP trades, CME ClearPort will bring trades Please contact us for more details if you are interested in under the rules of CME Europe and CMECE for clearing. participating in these programmes. CMECE provides clearing for CME Europe listed products in a European regulatory environment and under English law These contracts will be available on Trayport, with straight through processing (STP) from the Trayport front-end to Clearport, with real time confirmations of the cleared trades. Electronic trades on CME Europe will take place on CME Globex, our world leading electronic trading system for futures and options, giving you access to trading for 23.5 hours a day. Customers are able to connect via existing channels if they are already members of CME Group, or choose a new connection route. Delivery of the physically settled contracts will be handled by CMECE, in cooperation with leading service providers already operating in the UK gas market. INCENTIVE PROGRAMMES We offer two programmes: a six month trading volume incentive programme, open to all Clearing and Non-Clearing Members and their customers; and a 12 month Broker Rebate Programme which is open to all European Natural Gas market brokers acting for a Member or a Member’s customers. STRAIGHTFORWARD PRICING STRUCTURE AND FEES The UK Natural Gas contracts will be priced in GB pence per therm, and the contract size will be dependent on the number of days in the contract period. For example, the contract size for November 2014 will be 30,000 therms. The remaining European contracts will be priced in Euro per Megawatt Hour, and again, the contract size will be dependent on the number of days in the contract period. So, the contract size for a 30-day month will be 720 Megawatt Hours (30 days multiplied by 24 hours). Adjustments will be made according to the number of days in the contract period, as well as for Daylight Savings time changes in March and October. Our fee structure is designed to be simple, straightforward and competitive. Physical Settlement Fees Standard Fee/Lot* Delivery Fee/Lot UK NBP Natural Gas Daily Future 0.02 GBP 0.025 GBP UK NBP Natural Gas Calendar Month Future 0.27 GBP - Dutch TTF Natural Gas Daily Future 0,07 EUR 0.10 EUR Dutch TTF Natural Gas Calendar Month Future 1,90 EUR - Cash Settlement Fees Standard Fee/Lot* Delivery Fee/Lot UK NBP Natural Gas (ICIS Heren) Future 0.27 GBP 0.05 GBP Dutch TTF Natural Gas (ICIS Heren) Future 1,90 EUR 0,40 EUR German Gaspool Natural Gas (ICIS Heren) Future 1,90 EUR 0,40 EUR German NCG Natural Gas (ICIS Heren) Future 1,90 EUR 0,40 EUR Austrian VTP Natural Gas (ICIS Heren) Future 1,90 EUR 0,40 EUR German Gaspool Natural Gas (ICIS Heren) vs. Dutch TTF Natural Gas (ICIS Heren) Spread Future 1,90 EUR 0,40 EUR German NCG Natural Gas (ICIS Heren) vs. Dutch TTF Natural Gas (ICIS Heren) Spread Future 1,90 EUR 0,40 EUR UK NBP Natural Gas (ICIS Heren) vs. Dutch TTF Natural Gas (ICIS Heren) Spread Future 1,90 EUR 0,40 EUR *Standard fees include all transaction, clearing and block charges. Contact us: For more information on our Natural Gas contracts, the key advantages and the onboarding process, please get in touch with a member of our team today Mike Wilson Senior Director, Energy Products [email protected] +44 (0) 20 3379 3795 Ben Thorogood Director, Commodity Sales CME Europe [email protected] +44 20 3379 3820 Henrik Hasselknippe Senior Director, Energy Products [email protected] +44 (0) 20 3379 3735 Simon Gadd Director, Energy Products [email protected] +44 (0) 20 3379 3995 CME GROUP HEADQUARTERS CME GROUP GLOBAL OFFICES CME Europe Fourth Floor One New Change London EC4M 9AF United Kingdom Chicago New York +1 312 930 1000 +1 212 299 2000 London +44 20 3379 3700 Singapore Calgary Hong Kong +65 6593 5555 +1 403 444 6876 +852 3180 9387 Houston São Paulo Seoul +1 713 658 9292 +55 11 2565 5999 +82 2 6336 6722 Tokyo Washington D.C. +81 3242 6232 +1 202 638 3838 “CME Group”, “CME Europe” and “CME Clearing Europe” are brands of CME Group Inc. and its subsidiaries, members of which include Chicago Mercantile Exchange Inc., CME Europe Limited, CME Clearing Europe Limited and CME Marketing Europe Limited. Exchange traded and Over-The-Counter (OTC) derivatives are not suitable for all investors, and involve the risk of loss. Exchange traded and OTC derivatives are leveraged investments, and because only a percentage of a contract’s value is required to trade, it is possible to lose more than the amount of money initially deposited for an exchange traded or OTC derivative position. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one trade because they cannot expect to profit on every trade. CME Group is the trademark of CME Group, Inc. The Globe logo, CME Globex® and CME® are trademarks of Chicago Mercantile Exchange, Inc. CME Clearport is a trademark of New York Mercantile Exchange Inc. Contracts referencing ICIS Heren are settled to a calculation based on the settlement prices of Reed Business Information Ltd (“ICIS Heren”). All matters pertaining to rules and specifications herein are made subject to and are superseded by official CME, CBOT, NYMEX, CME Europe, CME Clearing Europe and CME Group rules. Current rules should be consulted in all cases concerning contract specifications. This communication does not constitute a Prospectus, nor is it a recommendation to buy, sell or retain any specific investment or to utilise or refrain from utilising any particular service. This communication is for the exclusive use of Eligible Counterparties and Professional Clients only and must not be relied upon by Private Clients who should take independent financial advice. Circulation should be restricted accordingly. CME Europe Limited is a Recognised Investment Exchange (RIE) recognised and supervised by the Financial Conduct Authority in the United Kingdom. CME Clearing Europe Limited is a Recognised Clearing House (“RCH”) recognised and supervised by the Bank of England. CME European Trade Repository is a business name of CME Trade Repository Limited, a registered trade repository under EMIR supervised by the European Securities and Markets Authority. CME Globex Markets Limited is authorised and regulated by the Financial Conduct Authority. Issued by CME Marketing Europe Limited. CME Marketing Europe Limited (FRN: 220523) is authorised and regulated by the Financial Conduct Authority in the United Kingdom. Copyright © 2014 CME Group. All rights reserved. PM1171EU/00/0914
© Copyright 2024 ExpyDoc
